Offshore marine and engineering consultancy Aqualis Offshore has been contracted by Petrofac to perform technical support services for its work on the BorWin 3 gamma topside for the North Sea.
Nicola Sturgeon has admitted the oil industry in the north-east is now in crisis – despite one of her own MSPs claiming it was “booming” just days ago.
Engineering services company Lamprell said it had increased its workforce by 1,500 in response to increased project construction work in the Middle East.
Petrofac has teamed up with Faroe Petroleum and Eni Hewett to establish a cost saving partnership across their UK operations in the Southern North Sea.
The tripartite agreement is aimed at driving efficiencies and commercial synergies.
Petrofac will share logistics across the Schooner, Hewett and Ketch gas fields to share logistics and accommodation services across the facilities.
Oilfield services company Petrofac has been awarded a multi-million dollar technical training contract with Shell Iraq, achieving their fourth win with a major operator in the country.
Petrofac has terminated a contract with ZPMC over alleged issues with the its performance in construction of the design of a deepwater multi-purpose vessel.
The international service provider said the move was “regrettable” but “necessary”.
Petrofac boss Ayman Asfari has admitted mistakes were made in the handling of the delayed Laggan Tormore gas development - which has led to the company losing $263million on the Shetland project.
Petrofac has posted a net loss for the first half of the year which was affected by an increase in costs from its Laggan-Tormore project in the Shetland Islands.
The company said net loss for the period was $133million, compared with a net profit of $136million a year earlier.
Petrofac has incurred $236million in loss on the delayed Shetland Islands project so far this year.
Petrofac has been awarded a $780million contract from KOC (Kuwait Oil Company) for its manifold group trunkline in the country.
The international oil and gas services provider said the win will play an integral part in KOC’s plans to increase and maintain its crude production over the next five years.
There are three new gathering centres – forming part of the broader engineering, procurement and construction contract - already being built.
Petrofac’s share price rose nearly 10% to 939p despite mounting costs.
The firm confirmed staffing issues, work delays and harsh weather conditions led to an additional £30million in incurred costs for its Laggan-Tormore project . The bloated expenditure brings the company’s total loss in the year to date to £140million.
Petrofac confirmed mounting costs from its Laggan-Tormore project will see its profits “significantly weighted” towards the second half of the year.
The firm detailed an additional £30million of costs it has incurred with the flagship gas development in the Shetland Islands, bringing their total loss in the year to date to £140million.
Energy service giant Petrofac said today its projects and operations business unit had secured contract renewals for UK North Sea work worth a total of about $400million (£252million).
Petrofac has confirmed that non-executive director Roxanne Decyk is to step down.
Ms Decyk will be replaced by Matthias Bichsel following approval by shareholders at the annual general meeting.
Petrofac is in consultation with onshore staff as it looks to make reductions to it headcount.
The services company said it was in discussion with around 100 members of staff.
However it is understood the number of staff who could face job losses is likely to be around 50.
As previously reported earlier this month on Energy Voice, in addition to 79 job reductions as a result of EnQuest’s changes to its shift pattern, a further 21 jobs could also go offshore.
A fresh profits warning on the troubled Laggan-Tormore gas terminal development hit the share price of service giant Petrofac yesterday.
Almost £350million was wiped off Petrofac’s market value as shares slid 10% to 912.5p.
The firm admitted it would lose a further £130million on the Total-operated project, in addition to the £154million in losses it took on the scheme in 2014. This on a project value of £800million.
Ayman Asfari, Petrofac’s Chief Executive listed a number of difficulties facing the development of the loss-making gas terminal that included industrial action and the high cost of doing business in the North Sea.
Petrofac is set to incur a further $195million charge on the Laggan-Tormore project as a result of continued delays.
The company is currently building the Shetland Gas Plant for Total after signing a £800million deal in 2010 for engineering, procurement, supply, construction and commissioning of the site.
Petrofac has previously said it expected to recognise no further profit or loss on the project over the remainder of the contract duration.
Petrofac has completed a project for Nexen Petroleum on its Golden Eagle Development Area.
The company said the work was delivered through its Plant Asset Management consulting business.
It involved the development and implementation of a maintenance programme for the installation, which is 70 kilometres north east of Aberdeen.
Energy service firm Petrofac plans to axe 16.5 full-time equivalent offshore roles supporting the UK North Sea operations of CNR International (CNRI).
A spokeswoman confirmed the fewer-than-expected number last night after 37 possible redundancies was mentioned in a letter to Petrofac employees.
It also said workers supplied to CNRI through its Aberdeen-based recruitment business, Atlantic Resourcing, were being “downmanned”.